When people find out I’m a real estate agent, they love to ask me all kinds of things! Here are three that come to mind:
HOW MUCH DOES IT COST AND HOW LONG DOES IT TAKE TO BECOME AN AGENT?
Not much and not long, really. Application fees, coursework fees, and testing fees vary by state, but most agents spend anywhere from $300 to $1000 and can complete their training in just about four to six months.
HOW AND WHEN DO YOU GET PAID?
Love this one! (I mean, who doesn’t love to chat about payday?) Here’s how it works: I get paid on commission. So when one of my buyers or sellers closes on a home, a percentage of the sales price—typically 6%—gets split between me and the other agent. These funds make a pit stop by my broker before being passed along to my pocket!
Which brings up another question…
HOW DO YOU CHOOSE A BROKERAGE?
Carefully and methodically! My biggest tip for newbie agents looking to pick the perfect brokerage? Ask other agents – and ask lots of them! You’ll need to think through commission split (brokers get a slice of that 6%), culture, reputation, niche, and whether you want to go franchise or independent. Veteran agents will be your best source of info!